There is a high demand for blockchain developers (i.e. coders, developers, engineers). We at Blockchain4talent are therefore asked more than once what a normal salary is for a Bitcoin or Ethereum developer, for example. We researched this and came to a nice conclusion for developers. Read more here.
Bitcoin Developer Salary
Salary figures vary quite a bit. According to PayScale.com, an average Bitcoin developer salary is $103,319 per year and the demand for an experienced Bitcoin developer is growing exponentially.
Let’s do some calculations to get more valuable insights into Bitcoin developers salary. Codementor.io speaks of a typical hourly wage of around $90 for a Blockchain developer or $3,600 on a weekly basis, which translates into a monthly salary of $14,400 based on a 40-hour work week.
Don’t these numbers sound tempting? Are they already sparking your desire to become a blockchain/Bitcoin developer too? This is not all…
The actual salary
According to the data collected by ZipRecruiter, a reputed recruitment organization, the annual salary of an experienced and skilled Bitcoin or Ethereum developer is at least $23,500 and can be as high as $172,000. A large majority of Bitcoin developers earn between $82,000 and $141,000. In the United States, highly skilled developers earn more than $156,000 annually.
That being said, an average Bitcoin developer salary depends on many factors such as a specific skill set, location, and years of experience.
By taking a look at the job details of Blockchain4talent (a Blockchain job site), jobs as Bitcoin developer are available almost everywhere. In the Netherlands, an Ethereum or Bitcoin developer earns around €85,000 per year. The Covid-19 pandemic has resulted in an even faster increase in the money supply in euros and dollars, interest on savings has fallen to zero (or even lower) and the freedom to dispose of your bank balances is becoming increasingly limited. These developments have a positive effect on the popularity of cryptocurrencies. PwC predicts that Bitcoin and other blockchain-based cryptocurrencies are poised to disrupt the multi-billion dollar accountancy and financial sector. With this development in mind, we can expect Bitcoin developer demand and earnings to continue to grow.
How much an Ethereum developer earns
Blockchain developers should gain working knowledge of Ethereum, an open source blockchain-based distributive ledger technology that lays the foundation for smart contracts. To become an Ethereum developer, you don’t need to learn cryptography and other advanced algorithms. This open source platform automates a significant portion of a developer’s work.
Similar to Bitcoin, Ethereum relies solely on the public blockchain network. What sets Ethereum apart from Bitcoin is that it runs the code behind the decentralized applications.
Undeniably, Ethereum developers are well paid, but Ethereum developers need to acquire numerous skills to land their dream jobs. Many job boards do not consider Ethereum developer as a separate job hence there is a lack of data on their annual salary.
Today, many IT professionals such as security experts, web and mobile application developers, Blockchain and Ethereum developers prefer to work remotely as freelancers or consultants. When Blockchain4Talent searched Upwork, the job board found that most Ethereum developers earn between $50 and $100 per hour; a very nice salary.
Bitcoin and Ethereum are both considered advanced technologies, but at the same time, they are both complex to learn; especially if you are unfamiliar with some of the underlying concepts, such as consensus algorithm, cryptography, and centralized applications (dApps).
Another attractive fact about the jobs of Bitcoin and Ethereum developers is the growing demand for remote workers. According to Hired (a well-known technology-based recruitment company), almost half of IT professionals prefer to work 100% remotely.
If you invest time and money now to learn about how the Blockchain ecosystem works behind the scenes and understand the system on a bit and byte level, it means you master the future of technology and a future blockchain job with a monthly income of 5 numbers ahead.
For this article, data collected by Blockchain4talent was used. Blockchain4talent is the largest blockchain job board that tries to provide insight into the entire range of blockchain-related vacancies in Western Europe and thus allows visitors to its website to apply as well-informed as possible. Read more about Blockchain4talent here.